California Life, Accident, and Health Licensing
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Florida Life and Health Insurance Pr... NJ LIFE PRODUCER EXAM QUESTIO... Florida 2-40 health insurance part 2... Person
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Co-insurance The policy provision which requires the insurer and the insured to share in the cost
of services rendered
Exclusion ratio The formula which is used by the IRS to determine how much is taxable to an
annuitant during the pay out period.
Occupational policy When a disability income policy provides coverage for injuries which occur on
and off the job
Most disability income policies are non occupational, They only cover the insured if they become disabled while away from work.
meaning
Self employed individuals doesn't have workers compensation coverage. They need coverage both on and off the job
(occupational).
A life agent who offers for sale or sells any financial The Notice Regarding Standards for Medi-Cal Eligibility. Must be signed by
product on the basis of its treatment under the MediCal applicant.
Program must provide
A widow or widower without any children is eligible for 60
social security survivors benefits at age
A surviving spouse is eligible for social security survivor's 60
benefits at age
An authorized, or admitted carrier (insurer) one which is under compliance with the California Insurance Code (CIC) and can
operate legally in California
Which type of life insurance utilizes the "level premium Traditional whole life
concept"
, Disability income policy proceeds must be paid out at monthly
least
What life insurance rider will pay a monthly benefit to the The disability income rider. It is a type of health (disability) insurance
insured when they become disabled
Dread (Specified) Disease policies, such as cancer Treatment for one specific disease
insurance, covers
The benefit paid out for a residual disability in a disability a loss of a minimum of 20% of income
income policy is based upon
Agent may be either Captive (Exclusive) or independent
Captive agents agents who agree by contract to represent only one insurer in the sale of
insurance
Independent agents usually self-employed and often represent several insurance companies
Under state law, agents must have at least one appointment in order to keep their license active
Agents are prohibited from engaging in any of the 1. using a business name that implies that they are an insurer
following activities 2. advertising on behalf of a non-admitted insurer
3. offering free insurance as an inducement to purchase or sale
Under a group insurance plan a certificate of insurance is the participants, usually employees. The policy owner, usually employer, gets the
issued to master policy
Domestic insurer one that domiciled (organized) in this state
Foreign insurer one that organized in another state
Alien insurer one that organized in another country.
All insurers need to obtain a Certificate of Authority from the Commissioner in order to be admitted to
transact insurance in this state, except for Surplus Line insurers
Indemnity plans allow the insured to select any provider they wish.
Traditional indemnity plan the insured generally is supposed to submit their claims directly to an insurer, in
reality an "assignment of benefits" form is utilized and the medical care provider
submits the claim on the insured's behalf
Participants in a managed care indemnity plan select a provider and submits claims to the insurer
When an insurer wants to have the applicant complete an 1) Have the applicant sign a consent form
HIV test, they must do 2) Find out which doctor they should provide the results to
3) Provide information on where they can receive counseling
Save
Students also studied
Florida Life and Health Insurance Pr... NJ LIFE PRODUCER EXAM QUESTIO... Florida 2-40 health insurance part 2... Person
Teacher 24 terms Teacher 109 terms Teacher 39 terms Teacher
Githinji_Lewis Preview Benson_ngugi Preview zanil9624 Preview Mad
Co-insurance The policy provision which requires the insurer and the insured to share in the cost
of services rendered
Exclusion ratio The formula which is used by the IRS to determine how much is taxable to an
annuitant during the pay out period.
Occupational policy When a disability income policy provides coverage for injuries which occur on
and off the job
Most disability income policies are non occupational, They only cover the insured if they become disabled while away from work.
meaning
Self employed individuals doesn't have workers compensation coverage. They need coverage both on and off the job
(occupational).
A life agent who offers for sale or sells any financial The Notice Regarding Standards for Medi-Cal Eligibility. Must be signed by
product on the basis of its treatment under the MediCal applicant.
Program must provide
A widow or widower without any children is eligible for 60
social security survivors benefits at age
A surviving spouse is eligible for social security survivor's 60
benefits at age
An authorized, or admitted carrier (insurer) one which is under compliance with the California Insurance Code (CIC) and can
operate legally in California
Which type of life insurance utilizes the "level premium Traditional whole life
concept"
, Disability income policy proceeds must be paid out at monthly
least
What life insurance rider will pay a monthly benefit to the The disability income rider. It is a type of health (disability) insurance
insured when they become disabled
Dread (Specified) Disease policies, such as cancer Treatment for one specific disease
insurance, covers
The benefit paid out for a residual disability in a disability a loss of a minimum of 20% of income
income policy is based upon
Agent may be either Captive (Exclusive) or independent
Captive agents agents who agree by contract to represent only one insurer in the sale of
insurance
Independent agents usually self-employed and often represent several insurance companies
Under state law, agents must have at least one appointment in order to keep their license active
Agents are prohibited from engaging in any of the 1. using a business name that implies that they are an insurer
following activities 2. advertising on behalf of a non-admitted insurer
3. offering free insurance as an inducement to purchase or sale
Under a group insurance plan a certificate of insurance is the participants, usually employees. The policy owner, usually employer, gets the
issued to master policy
Domestic insurer one that domiciled (organized) in this state
Foreign insurer one that organized in another state
Alien insurer one that organized in another country.
All insurers need to obtain a Certificate of Authority from the Commissioner in order to be admitted to
transact insurance in this state, except for Surplus Line insurers
Indemnity plans allow the insured to select any provider they wish.
Traditional indemnity plan the insured generally is supposed to submit their claims directly to an insurer, in
reality an "assignment of benefits" form is utilized and the medical care provider
submits the claim on the insured's behalf
Participants in a managed care indemnity plan select a provider and submits claims to the insurer
When an insurer wants to have the applicant complete an 1) Have the applicant sign a consent form
HIV test, they must do 2) Find out which doctor they should provide the results to
3) Provide information on where they can receive counseling
